TEHRAN- Central Bank of Iran (CBI) has announced that the rental price has increased 40.9 percent in Tehran city during the seventh Iranian calendar month Mehr (ended on October 22), as compared to the same month in the past year.

Housing prices in Iran have been constantly rising over the past three years due to various internal and external factors.

Although, in early May, the chairman of Real Estate Agencies Union said, “This year is the year of lower housing prices; this condition will continue in the country for the next two years, and we will see a continuous decrease in housing prices”.

MA/MA